Search results for: Purchase A House

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Buy a house with zero down & low monthly payments?

You might be thinking, how is it possible to purchase a house or condo with no money down and obtain low monthly payments? Well in the current housing market it is possible and occurs quite frequently. Now how do you make this happen for you, well there are 2 pieces to the puzzle that you need to know going into your housing search. First...
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Which Type of Home Loan is Best for You?

There are many different types of home loans from which prospective borrowers can choose. There are fixed rate mortgages, adjustable rate mortgages and home equity loans, to name a few. As these are the main types of home loans, they will be discussed in further detail to determine which home loan is right for you. Fixed Rate...
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Buying a house, how much home can you afford?

Buying a house: what to consider? When making the decision to buy a home, there are many things to consider. Before you even start to look for that dream house, you need to think about how much house you can afford. If you are renting, you already have an idea of how to budget and manage your monthly expenses every month. Things will be...
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No Down Payment Mortgages (100% Financing)

You can buy a home with no down payment and finance the entire home's value. Many first-time home buyers cannot afford putting down 20% of the home value, but rather go with a no-down payment option in order to use their savings to purchase furniture or other necessities for their new home. There is a few ways to accomplish this type of...
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What are Interest Only Mortgages? Differences with standard home loans

What you need to know about Interest Only Mortgages... These loans can be either an ARM or Fixed rate mortgage. The purpose of these loans is to obtain the lowest possible payment per month. You are only paying the interest owed on the loan. No principal is paid down. So after 1 or 3 years of interest only payments the original...
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Will I have to pay for Private Mortgage Insurance?

If you have just been approved for a mortgage, or are in the process of searching for a home to purchase, you may want to know everything about private mortgage insurance (PMI). This type of insurance is issued by private lenders in order to protect the lender in case the borrower defaults on a loan. You may also want to know everything to...
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Is an interest only loan a good idea when buying a house?

Should you be paying interest only when you buy your first home? Well there are different answers to that question. It depends on the situation of the buyer and the current housing market in that area. Interest only loans To begin with, when you are paying an interest only loan you are not paying any principal down at all. So if you...
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process to apply for a Fannie Mae Mortgage Loan

Getting a Fannie Mae mortgage is the right choice for many people who wish to become homeowners. Although Fannie Mae does not lend money directly to consumers, they do provide funds to mortgage lenders, who in turn make those funds available to potential homebuyers in the form of loans. If you are considering applying for a Fannie Mae...
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buy foreclosed homes with zero down payment

Buying a foreclosed home can be a smart idea, because they tend to be priced lower than similar houses on the market. So whether you're looking for a primary residence--or plan to sell the house at a later date--a foreclosure may save you money. However, what should you do if you don't have the money for a down payment? Try one of these...
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does a second mortgage affect your credit?

Individuals these days are able to obtain a wide array of mortgages on their homes. Some homeowners not only have one mortgage on their house but a second mortgage as well. Borrowers take out second mortgages on their home in certain instances when they need to acquire money for one reason or another. Prior to obtaining a second mortgage,...
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What Can You Do With Your Home Equity?

Home equity is a concept that many individuals are familiar with yet do not know the full extent with regard to its capabilities. Many people wonder what they can do with their home equity and the answer to this is a great deal of things. Home equity loans and home equity lines of credit allow homeowners to tap into their available home...
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how do you find the best home equity line of credit rates?

You finally found the dream house that you want to live and grow old in. However, you don't have the ready money for it and plan to get a bank loan which in turn will require you to get private mortgage insurance. How to avoid private mortgage insurance The only way to avoid private mortgage insurance is to make a down payment on the...
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